Vietnamese foodtech startup Kamereo has raised $7.8 million in a Series B funding round to expand operations in multiple cities across the country, according to an announcement.
Investors who participated in the funding round include Japanese trading group Sumitomo Corporation, Inspire Co., SMBC Venture Capital, Mitsubishi UFJ Capital, Reazon Holdings, and other individual investors.
Following the latest funding, the total amount raised by the company has now exceeded $15 million.
The funds raised will be allocated to expanding operations in multiple cities across Vietnam. This includes strengthening the product offering, diversifying activities, introducing new services (such as a marketplace model), and further developing product features.
In November, DealStreetAisa reported that Kamereo raised $2.8 million in fresh funding from Sumitomo Corporation.
Kamereo was founded in 2018 by Japanese expatriate Taku Tanaka, who was the COO at Mekong Capital-backed restaurant chain Pizza 4Ps.
Its customer base extends beyond restaurants and includes supermarkets, convenience stores, factories, schools, and hospitals. The company continues to expand its product offering to establish a system capable of meeting customers’ needs comprehensively.
This month, Kamereo expanded operations to Hanoi, complementing its presence in Ho Chi Minh City. Together, these two cities account for over 50% of Vietnam’s GDP, marking a significant step in the company’s nationwide expansion.
“Following this funding round, we plan to collaborate with our retail business, Fujimart, which we operate in Hanoi, to support KAMEREO’s business expansion. Through this partnership and new services, we aim to deliver high-quality, safe, and reliable food to an even greater number of customers,” said Hiroki Takeno, Executive Officer, Retail SBU Head, Sumitomo Corporation.
In March, Kamereo said it successfully tided over the COVID-induced lockdown in Vietnam and has been able to significantly grow its business and improve profitability.
In 2021, Kamereo raised $4.6 million in its Series A round led by Thai conglomerate Charoen Pokphand’s CPF Group, Quest Ventures, and Genesia Ventures. It also raised a $500,000 seed round in 2019 led by Genesia Ventures, with participation from Velocity Ventures Vietnam.
Genesia Ventures is the company’s top shareholder according to DealStreetAsia DATA VANTAGE.
Top shareholders of Kamereo
